Main scenario: consider long positions from corrections above the level of 128.52 with a target of 135.00 – 140.00.
Alternative scenario: breakout and consolidation below the level of 128.52 will allow the pair to continue declining to the levels of 124.50 – 122.50.
Analysis: The third wave of larger degree (3) continues developing on the daily chart, with wave 3 of (3) forming inside. The third wave of smaller degree iii of 3 looks completed and a corrective wave iv of 3 finished developing on the H4 chart. Apparently, the fifth wave v of 3 is developing on the H1… Read full author’s opinion and review in blog of #LiteFinance